Ordinance 1433-88 - Laserfiche WebLink

(2 ) The aggregate amount that would have been earned on the amounts deposited in the Construction Fund, 1988 Debt Service Subaccount, the 1988 Sinking Fund Account, the 1988 Reserve Account and the 1988 Advance Refunding Fund for the Computation Period if such amounts had been invested at a yield equal to the actuarial yield on the 1988 Bonds for the Computation Period, plus (3 ) Any income (whether or not that income exceeds such yield on the 1988 Bonds) attributable to the excess of the amount computed under subparagraph ( 1) over the amount computed under subparagraph (2 ) . If the gross earnings on the amounts in the 1988 Debt Service Subaccount and the 1988 Sinking Fund Account allocable to the 1988 Bonds for any Bond Year during the Computation Period were less than $100, 000, the amount of earnings on such Subaccount for each such Bond Year must not be taken into account in making the computations under subparagraph ( 1 ) and (2 ) above. C. The City shall make deposits into the Arbitrage Fund to maintain it at the Arbitrage Earnings Amount, less the amounts, if any, previously paid to the United States as provided herein. Such deposits shall be made from moneys in the 1988 Debt Service Subaccount, 1988 Sinking Fund Account, 1988 Reserve Account, and Construction Fund, if and to the extent that the Arbitrage Earnings Amount is payable to the Arbitrage Fund as a result of earnings on such accounts respectively, or from any other lawfully available moneys of the City. Any amounts that are withdrawn from the Arbitrage Fund as a result of a decrease in the Arbitrage Earnings Amount may be deposited in the Revenue Fund. Earnings on amounts in the Arbitrage Fund must remain therein and may not be taken into account in determining a decrease in the Arbitrage Earnings Amount. -40- KR180 88/01/11